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Microfinance bedrock of economic devt, VP

By  Amaka Agwuegbo
Vice President,  Goodluck  Jonathan, has described the microfinance sector as crucial to economic development and nation-building.
He stated this during the presentation of the best state of the microfinance, small and medium enterprise and the first runner-up under Agric Credit Guarantee Scheme-Trust Fund Model Awards to Governor Emmanuel Uduaghan of Delta State in Abuja, last Thursday.

Vice President Jonathan, who gave the example of Malaysia where microfinance has improved the lots of the poor, appealed to state governments to take the issue of wealth creation at the grassroots level very seriously.

Dedicating the awards to the poor people in the state who have embraced the Delta State Micro-Credit Programme (DMCP), Governor Uduaghan said he deemed fit to dedicate the award to them because not everybody accepted the scheme.

Uduaghan, who is receiving the coveted Central Bank of Nigeria (CBN) awards for state governments that have shown commitment to creating wealth at the grassroots level for the second time, said “in 2010, we are budgeting more money than we had in the two previous years because DMCP has become acceptable.

“There are many points which we have learnt and we have performed better than the precious years.”
The CBN Governor, Sanusi Lamido Sanusi, commended the Delta State government for its consistency in alleviating poverty.
He said “We just awarded Delta State as one of the states where microfinance has been effectively utilised to tackle poverty.”


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